Bengaluru-based deeptech startup SpaceFields raises $5 million led by Globaz Technologies, others

Bengaluru-based deeptech startup SpaceFields has raised $5 million (about Rs 42 crore) in a pre-Series A funding round co-led by Globaz Technologies, Rockstud Capital, and Venture Catalysts.

Advertisment

The round also saw participation from Nithin Kamath’s Rainmatter, Burla Angel Network, Faad Capital, SIDBI, O2 Angels, and MeitY Startup Hub, among others.

The startup said the funds will be used to scale up manufacturing, secure key regulatory certifications, and expand its engineering, operations, and business teams. This follows the $1.3 million it raised in a seed round last year from Jamwant Ventures, HVB 88 Angels, and others.

Founded in 2021 by Apurwa Masook, Rounak Agrawal, and Sudarshan Samal, SpaceFields designs and manufactures rocket propulsion systems for defence, aerospace, and space applications.

The startup has secured four defence contracts through the Ministry of Defence’s iDEX initiative and has applied for ten patents, of which five have been granted for its proprietary propulsion technologies. 

“Solid propulsion is a core enabler of defence and space missions, as also evident in our diverse cohort of customers such as the Armed Forces, DPSUs, DRDO, tactical drone companies, and several aerospace OEMs in need of bespoke, custom-developed systems,” said cofounder and CEO Masook.

As part of this round, SpaceFields and lead investor Globaz Technologies will collaborate to develop sovereign, dual-use technologies for India’s defence and aerospace value chain.

Globaz, based in Delhi NCR, specialises in the design, manufacturing, and testing of aerospace and defence electronics. India’s space sector is expected to reach $40 billion by 2040, according to industry reports.